Define budget cycle time spans
Budget cycles are the length of time during which a budget is used. Budget cycles can include part of a fiscal year or multiple fiscal years, such as a biennial budget cycle of two years or a triennial budget cycle of three years. The budget cycle time span defines the number of periods that are included in the budget cycle. To specify the budget cycle time span, use the Budget cycle time spans page.
When the fiscal calendar is created, you can divide, delete, or create a closing period on the Fiscal calendars page by using the appropriate button.
To divide an existing period into two periods, click the Divide period button. Enter the start date of the new period, and then click OK to create the new period and return to the Periods page in General ledger > Calendars > Fiscal calendars.
To create a closing period for a fiscal period, click the Create closing period button. Finance creates an opening and closing period for the fiscal year, but not for each individual period.
